Prasert Prasarttong-Osoth, founder, former CEO, and Vice-Chairman of Bangkok Airways (PG, Bangkok Suvarnabhumi), has agreed to pay a fine imposed by the Securities and Exchange Commission (SET) in Thailand for share price fixing at the turn of 2015 and 2016, Reuters has reported.
In mid-January, the SET fined Prasarttong-Osoth and his daughter Poramaporn, as well as Executive Secretary Narumon Chainaknan THB499.5 million bahts (USD14.2 million) in total for repetitive trading between themselves, which artificially pumped up the volume of trading in the carrier's stock. Prasert subsequently resigned from his functions and was replaced by his son Puttipong, who is also the airline's largest individual shareholder.
The Prasarttong-Osoth family between five members controls 57.3% of Bangkok Airways' shares.
